Like @Holden Latimer mentioned, it makes a lot of sense buying FHA, rehab to get LTV ration at 80%, then refi to conventional at better terms.I think the product is great those trying to get in for their first time or "turning and burning" a large 4-plex that you can live in.  

The seller isn't rational.

Personally, I can't rationalize that cost just to not be annoyed during a vacation, but if you're interested, the name is Secure Pay One.

I had budgeted for some slip and slop, and yet made one fatal assumption: the capacity for rational action, on the part of the tenants with whom I do business, to do in any measurable capacity of decency what is in their own best interest.The man who sold me the property after his houses, as he said, "sucked the life out of him", commented ominously in reference to the tenants that "these people are the scum of the Earth."

Rational:   Even with an LLC, you - as the agent- can be found liable for tort.  

I have a four family to start and the COC ration is absolutely insane. although appreciation seems to be really really slow. 

Anyone can sell their own property, but one of the benefits I feel I offer an owner is being able to be the rational and locally informed go between in what can be an emotional transaction (yes, even in commercial transactions.

:)One thing that´s great about investing out of state (or internationally in my case), is it forces you to choose rationally depending on your strategy as an investor.Generally speaking I´ve found slower growth, tertiary markets in the mid-west, that rank high on the affordability index, best for cash flow ROIs.

But what are your rational alternatives?

There is also the expense ration (0.08%) in terms of cost.